Forsta AP Fonden Buys 156,200 Shares of DexCom, Inc. $DXCM

Key Points

• Forsta AP Fonden increased its stake in DexCom by 157.6% in the fourth quarter, buying 156,200 additional shares and bringing its total to 255,300 shares worth about $16.9 million.
• DexCom reported better-than-expected quarterly results, with EPS of $0.56 versus estimates of $0.47 and revenue of $1.19 billion, up 15% year over year.
• Analyst sentiment remains mostly positive, though some firms trimmed price targets; the stock currently has a Moderate Buy consensus with an average target price of $82.42.

Forsta AP Fonden raised its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 157.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,300 shares of the medical device company's stock after purchasing an additional 156,200 shares during the quarter. Forsta AP Fonden owned approximately 0.07% of DexCom worth $16,944,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC grew its stake in DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after purchasing an additional 147 shares in the last quarter. ORG Partners LLC grew its stake in DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after purchasing an additional 281 shares in the last quarter. Spire Wealth Management grew its stake in DexCom by 113.8% in the fourth quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock valued at $38,000 after purchasing an additional 305 shares in the last quarter. Aventura Private Wealth LLC bought a new position in DexCom in the fourth quarter valued at approximately $43,000. Finally, Rothschild Investment LLC grew its stake in DexCom by 59.9% in the third quarter. Rothschild Investment LLC now owns 654 shares of the medical device company's stock valued at $44,000 after purchasing an additional 245 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DXCM has been the subject of a number of analyst reports. Bank of America decreased their price target on DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Raymond James Financial set a $81.00 price target on DexCom in a research note on Friday, May 1st. Robert W. Baird set a $80.00 price objective on DexCom in a research report on Friday, May 1st. Piper Sandler reaffirmed an "overweight" rating on shares of DexCom in a research report on Thursday, February 5th. Finally, Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and a consensus target price of $82.42.

DexCom Stock Performance

DXCM opened at $73.74 on Friday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.22 and a beta of 1.40. The business has a 50 day moving average of $64.17 and a 200-day moving average of $66.44. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business's revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, equities research analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $59.91, for a total transaction of $101,847.00. Following the completion of the sale, the executive vice president directly owned 109,504 shares of the company's stock, valued at approximately $6,560,384.64. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the sale, the director directly owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,871 shares of company stock valued at $2,306,638. Insiders own 0.28% of the company's stock.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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